Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
USD/CHF: bears are winning
2019-11-11 • Updated
SELL 0.9585 SL 0.9630 TP1 0.9510 TP2 0.9475
On the daily chart, USD/CHF failed to overcome resistance at 0.9765. This points at buyer’s weakness. If bears manage to settle above 0.9650 and trigger Gartley pattern, risks of decline towards the lower border of the downtrend channel will increase.
On H1, USD/CHF keeps forming “Widening wedge”. A break of support at 0.9585 will end the process (point 5) will strengthen the odds of a pullback to 78.6% and 88.6% of the last bullish wave.
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